Jack Dorsey reiterates his stance on laying off nearly 4,000 employees due to AI: he admits to over-hiring and sets a future goal of achieving a profit-to-employment ratio of $2 million.

In response to the community's claim that "Block's layoffs were primarily due to over-hiring and mismanagement during the COVID-19 pandemic," former Twitter founder Jack Dorsey posted on the X platform, stating, "Yes, we over-hired during the pandemic because we mistakenly created two separate company structures (Square and Cash App), but this issue was corrected by mid-2024. However, this doesn't cover the full complexity of our lending, banking, and BNPL operations. Our current goal is over $2 million in gross profit per person, reaching four times the efficiency we had before the pandemic, which has remained around $500,000 from 2019 to 2024. In fact, we run a more efficient company than most."